FirstBanC has launched two products, known as the Provident Fund Migration Service and the Heritage fund, in Accra.
The Provident Fund Migration Service is a free service designed to help businesses and institutions - both public and private - to design, restructure and make their Provident Funds compliant with the new Pensions Act 2008, Act 766.
Under this service, FirstBanC will assess and transfer existing provident funds to make them compliant with Act - including registration with the National Pensions Regulatory Authority (NPRA).
It also provides tax-free mortgage-financing benefits for employees of the business and institutions. The service is for employees of all businesses and institutions whether in the private or public sectors, including government, NGO’s, CBOs and FBOs.
For organisations and businesses with an existing scheme, FirstBanC will provide professional valuation services to determine the fair value of the scheme.
The Heritage fund is an open-ended equity market mutual fund with the primary aim of achieving long-term capital growth and building wealth for its shareholders.
The fund seeks to raise a minimum amount of GH¢100,000 during the Initial Public Offering (IPO) at an initial cost of 20Gp per share. The offering for shares of the Heritage fund began on Monday and ends on August 16.
The investment can be used to meet your medium to long-term financial needs, which includes financing of education, acquisition of property, retirement planning and so on, and is intended to build a similar solid foundation for investors to achieve solid growth, sustainable income and long-term value.
It operates by mobilising funds from shareholders which are then invested in high-yielding equity and fixed-income instruments.
Mr. Richard Kwame Asante, Chairman of the NPRA, said the outfit will continue to regulate the movement of schemes at all times to ensure that everyone enjoys the service, and added that there are lots of benefits in registering with the NPRA.
“There are opportunities under the scheme, but you have to take advantage of these opportunities and I encourage other financial institutions to introduce similar products to bring competition in the marketplace.” He made these comments at the launch of the new products.
Mr. Mawuli Hedo, CEO of FirstBanC, said the company would introduce more products and services in order to attract more customers, since it provides investors with the aim of long-term capital growth and wealth-building, and enriched every individual to go in for such products. Interested persons can acquire application forms from branches of FirstBanC, Stanbic bank, Zenith bank, Agricultural Development Bank and The Trust Bank across the nation.
Mr. E. K. Akoto, Chief inspector of Taxes, Internal Revenue Service, advised employers that filing of taxes returns is very necessary and therefore encouraged them to take up the two funds since they had lots of benefits.
No comments:
Post a Comment